[caption id="attachment_520881" align="alignright" width="125"] Rockwell Automation Inc. chief financial officer Nicholas Gangestad. Courtesy of Rockwell Automation.[/caption]
Milwaukee-based Rockwell Automation Inc. has selected a former 3M executive to become its chief financial officer, the industrial automation and digital transformation technology provider announced today.
Before joining Rockwell, Nicholas Gangestad served as St. Paul, Minnesota-based 3M’s CFO, where he oversaw all aspects of the organization's finances including compliance, financial planning, treasury and tax.
“Nick’s leadership experience, strong finance background and deep understanding of our industrial customers will help Rockwell Automation drive its strategic vision and accelerate profitable growth,” Rockwell chairman and chief executive officer Blake Moret said in a statement. “We are thrilled to welcome him to a dynamic leadership team focused on generating superior customer and shareowner value.”
Before his promotion to CFO in 2014, Gangestad was 3M’s chief accounting officer, corporate controller and also held global financial management roles overseeing teams and developing talent in Canada, Latin America and Asia Pacific.
“It’s an honor to become part of the Rockwell team,” Gangestad said in a statement. “They have already accomplished so much as a leader in industrial automation and I’m very excited to be joining at a time when software is becoming an increasingly important part of the business.”
3M and Rockwell Automation are both Fortune 500 companies.
Gangestad replaces Steve Etzel, who served as interim CFO since November 2020. Patrick Goris was Rockwell's previous CFO before leaving the company to become senior vice president and CFO of Carrier Global Corp.
Etzel, a 30-year company veteran who postponed his previously announced retirement to fill the interim role, will retire in 2021 after the transition period, according to a press release.
“Steve Etzel’s steady, thoughtful contributions to Rockwell and our stakeholders have been well-recognized for many years,” Moret said in a statement. “His willingness to step up during our CFO transition has been especially appreciated. The board and I wish him and his family the very best in his retirement.”